This article analyzes, using various econometric techniques, how family ownership, family control, and the presence of a second significant shareholder affect firm performance. The authors studied a panel of 118 nonfinancial Spanish companies (711 observations) from 2002 to 2008. Once endogeneity issues were considered, it was found that family ownership did not influence profitability. What seems to matter is family control. This study also reveals the importance of taking into account unobservable heterogeneity and endogeneity issues when analyzing firm performance and provides an interesting future avenue of research: the role played by other large shareholders in family firms.

This paper examines the various contributions of scientific research in the field of dynamic capabilities in the field of family businesses, using a bibliometric approach during the period 2009-2019. The volume of scientific publications found in the Web of Science (WOS) database was equal to 56 articles. The application of bibliometric methods and techniques has allowed to reflect the evolution of the level of publications, active institutions, methodologies employed and main research topics discussed. Taking into account the results obtained, future lines of research are proposed that allow progress in the consolidation of the study of dynamic capacities in the field of family businesses as a scientific discipline